MasterCard Canada has announced that it will be lowering certain Interchange rates starting December 1, 2016. The change will impact 11 different types of cards and merchant industries. The interchange rates are being lowered from 0.03% to as much as 0.36%, averaging 0.12% (12 basis points) in total.
We've compiled a complete list of the changes (see link below). Our website now also reflects these new rates:
Thanks to our Cost+ pricing, new and existing Helcim merchants will immediately benefit from the lower rates starting December 1. For those not currently using our merchant services, there is unfortunately no mandate requiring processors to pass these lower MasterCard costs onto their merchants; most processors will simply pocket the savings for themselves.
If you're thinking about switching and are wondering on how much Helcim can help you save, simply send us a recent processing statement from your current provider. You can email email@example.com or fax 1-866-469-3077 and we will reply to you with a free cost analysis and savings calculator.
Helcim is a US and Canadian credit card processing company. We believe in a transparent approach to business and we are passionate about educating merchants and business owners on the world of payments. We use our blog to share news, educate and dig deeper into topics that we find interesting. You can reach us anytime at firstname.lastname@example.org or join the conversation in our comments section.